In recent years, photovoltaic (PV) units are getting popular in different countries, including Australia, as they contribute to reducing green-house gas (GHG) emissions and enhancing energy efficiency. However, several technical and economic challenges need to be addressed to ensure maximum benefit from this renewable generation. Moreover, the development of energy policies and regulations also affects the development of such systems. Therefore, this paper aims to review several technical, operational and energy policy issues for developing reliable and efficient PV systems. In addition, this paper summarizes the existing modeling and sizing methods, the maximum power point tracking (MPPT) techniques, and the interface power-electronic devices in this field. Moreover, recommendations for future researchers and investors for developing such systems are provided in this research paper.